Contractor here, I specialize in surgical rot repair. Be assured, a house is a TERRIBLE thing to dream about. Your house should facilitate and support your life, not the other way around but only 1 out of 1,000 people know and practice this.
@Ink3011 ай бұрын
Smartest comment on here 😊 I agree
@davidbrayshaw352911 ай бұрын
Exactly. Obviously, we all need somewhere to live. Obviously, for most of us, that means going into debt. But how much debt, is on you. If you and your partner need to spend the next thirty years paying down a house loan, what are you sacrificing? The answer is nearly half your life. My wife and I worked for our house for nine years. For the past fifteen years, it's worked for us.
@RJWaynerium11 ай бұрын
999/1000 don't realize the pain and suffering when the words roof replacement and foundation repair/replacement are uttered, not to mention the empty void your cash reserves become
@mikeparrott830411 ай бұрын
Great advice. I own outright a small 3 bedroom terraced house . Works for my family. Other people I know on my wage own massive homes with huge mortgages.
@mikeparrott830411 ай бұрын
@@RJWayneriumDefinitely my mums house cost 25k for a new roof. My Dad was smart he told her to keep 60k in reserves for the house
@macneoh741811 ай бұрын
I'm so tired of these people calling in making 5X the national average and a paid off home trying to buy a million dollars house. Where are the callers making $60K with real problems?
@floresnashvilledrummer11 ай бұрын
How long have you been listening? Broke people making $60K and living beyond their means is his target audience and most repetitive callers!
@Anonymous-xq3cd11 ай бұрын
Seriously, its always the people that make 1 million dollars a year and has a problem whether to but a $5,000 used car or not.
@talyahr330211 ай бұрын
Or $40k like me 🫠
@mattnieschwitz472711 ай бұрын
I mean, just because they've gotten themselves to a successful point in life doesn't mean they don't need financial guidance.
@hondofitty11 ай бұрын
fk them, eat the rich@@mattnieschwitz4727
@stephensullivan101111 ай бұрын
I cry when I watch these. Trying to get out of debt from my stupid student loans ASAP... Don't go into debt to go to college kids...
@kTorres00711 ай бұрын
You can do it!! I did it, took me a few years, remember time will pass anyway so keep chugging away at it ❤️🙏
@wm599411 ай бұрын
I went into debt to go to college, and I paid it all off. It's doable.
@maxwintac891511 ай бұрын
I went for a shitty poli sci and criminal justice degree. I regret it. I wish I would have used GI bill on something lucrative like getting a business degree and going to a trade school. Could own a home construction or electrician company making big dolars and making my own hours. I think college is really only worth it for certain stem degrees.
@thewb311 ай бұрын
@wm5994 excellent! How much did you pay off in total?
@thewb311 ай бұрын
@kTorres007 Great! How much student loans did you pay off?
@philh882911 ай бұрын
My $200,000 house in 2015 is now $500K in 2023. WTF. I look at new builds in my area, they are all 800K-1000K. Absolutely insane. I don't for a minute think they are worth 75% of that. What people don't often account for is taxes. My tax bill went from $4500 to $8250 / year. That's $313 per month increase in escrow payment. Add on maintenance, yes, you will need a roof and complete HVAC replacement every 15-20 years, a water heater every 10-15 years. Appliances every 8-10 years, Flooring / Paint every 20 years, Sump Pumps ever 10 years. Driveway sealant every 5 years, mailbox every 10 years. Budget at least $250/month toward a property maintenance fund. I highly suggest you prefund your maintenance account with $10-15K. Lawn Care / Tree Care / Pest control, budget $200/month Utilities, budget $200-300/month.
@wm599411 ай бұрын
Maint expenses absolutely do not have to be that extreme unless the person has no hands-on skills whatsoever and pays someone else for repairs. I've been a homeowner for 23 years. I've got the same stove that came with the house and it works perfectly. My driveway is hard-packed (nothing to seal) - I patch it as needed. HVAC - total ripoff - window units are cheap and easy to replace. The roof can be patched as needed. I cut my own grass and care for my own trees. Painting isn't rocket science - yes you have to buy the paint. My water heater is 23 years old - never a problem - and when it dies I can easily replace it myself. Again, unless the person is practically useless your home maintenance expenses absolutely don't need to be that high.
@thomasbrooksjr38011 ай бұрын
Set a repair fund in investment in 5 years you should have enough for repairs 🤔
@Drew45811 ай бұрын
@@wm5994 I think it depends on the individual. Many people don't have the time/skills to do the work themselves, so they'll have to pay to have the work done. You can absolutely save money by DIY'ing things, but things do break and can be expensive quick (outside of paying taxes). It's recommended to save 1-4% of a house's value for maintenance/taxes, and a bigger house will have bigger maintenance bills regardless if you DIY or not.
@KA-mq4wj10 ай бұрын
Lawn care is insane $…Mulch, pine straw, grass mowing, seeding, flowers, tree trimming! It’s a big expense. I have a 3/4 acre. I love my yard but it’s a big expense.
@ilcarabiniere79710 ай бұрын
How are you spending $200/month on lawn care?
@modernsoccer186011 ай бұрын
Don't rush, a friend bought a house and she literally uses all her pay check to pay monthly leaving her very thin on budget,about 3400 per month. I still live in my apartment of 900 per month, life is not a race. Trying to save as much as I can and live comfortably
@roadrunner96226 ай бұрын
Yep. Some people talk like buying a house is always the right answer. It depends on the season of life you are in and how long you are going to stay there, among other factors.
@sixteen.candles.46446 ай бұрын
Right
@carolhale43316 ай бұрын
You were lucky to get rent like that. In my area, a one bedroom to rent cost 1600 a month.
@Operation95954 ай бұрын
And you did exactly right .me myself I've been standing at the same rental for almost 9 years now and at first I saw everyone else purchasing homes and had a little bit of envy but my rent has only gone up a few dollars and so I even split the rent with other people so win win!!!!😂😂😂❤❤
@theclockworkcadaver70254 күн бұрын
@@carolhale4331 Move to a different area if it's that much of a problem.
@catherinesanchez11857 ай бұрын
When I bought my house the bank told me I could afford X but my numbers showed me it would only the a couple emergencies to bury me . I didn’t listen and bought less house than they were willing to finance . This paid off in 2008 during the crash when I was out if work for 18 months . I still went into foreclosure towards the end but then found a job and was able to dig my way out before losing the house . If I had listened to to the mortgage lender , I would have lost the house
@Kayyynicoleee2 ай бұрын
You used wisdom. ❤ Thank God!
@michellefitz42872 ай бұрын
Good for you. Inspired by the “happy “ ending. Lots of hard work and perseverance.
@EmpressMermaid11 ай бұрын
Living in Pensacola like this caller, I can tell you that Florida waterfront property has ASTRONOMICAL insurance costs. Not to mention the danger when (not if, but when) the next hurricane comes along. Or flood. I don't think this guy realizes what he's getting into.
@demodiums721611 ай бұрын
Dave Ramsey fans think climate change is a hoax lol
@EmpressMermaid11 ай бұрын
@@demodiums7216 True. I like about 80% of what Dave says, but some of his listeners are a bit divorced from reality. Sadly climate change is going to do in Florida l, a state in which my family has lived for 6 generations. Mine may be the last.
@faithrada7 ай бұрын
Can not agree more. I Just sold my ocean side FL house... Everything is closing in in FL.. Time to bow out. No Insurance co. will touch Ocean Property.. so if you have any mortgage you are screwed. Between Ins., malaria, zeka virus. Dengue fever, drinking water crisis, .. the list is long. Florida is NOT the place to be these days.
@Kurstonclark7 ай бұрын
We are in pace, just outside of Pensacola & my husband doesn't want to buy our next house here because of climate change. Not to mention everything in this area has skyrocketed. Used to be a small town & has become a proper suburb. Looking at moving north when we save the money.
@EmpressMermaid7 ай бұрын
@@Kurstonclark i probably would take off, too, if I didn't have family and career obligations here. I bought my house in 2012, which I'm glad I did as there's no way I'd buy one now. If I were younger and more free I'd make very different choices.
@tylercampbell63656 ай бұрын
I bought a house with no emergency fund and thank God I had no issues for the three years building one based on a video I watched of Dave's but should be common sense..I feel so much less stress knowing I can handle any situation..Its a blessing that can definitely become a nightmare if you're not prepared..
@DamianBadalamenti11 ай бұрын
Property taxes and insurance is going to kill them
@MAELOB11 ай бұрын
No property tax for a 100% va disabled veteran in FL but still it is probably too much of a house
@blackworldtraveler371111 ай бұрын
They asked for it having debt obligations like that. My place is on Marco Island. Being completely debt free property tax and insurance isn’t a big deal.
@Muggins10464 ай бұрын
@@MAELOBdoes it confer to spouses? What if he dies and she’s stuck with the tax bill?
@NAB77711 ай бұрын
I’m convinced Some of these people be calling just to show off. This doesn’t really represent AMERICA where people are struggling to put food on the table. When food and tables have gone up in prices but wages have not.
@blabla9035 ай бұрын
Most of them are lying. People making millions don't call in to a radio show for advice, they pay for a real financial advisor.
@eplugplay840911 ай бұрын
Similar situation where my wife and I paid off our mortgage about 3 years ago and we discussed about moving up to a bigger house. But with 2 kids our current home is a 2230sq ft house with 3 bed 2 bath and an office which is plenty for the four of us. Its zoned in really great schools from elementary, junior high, and high school and by the time they leave college we would downsize anyway to a house this size or even smaller. So in our mid to late 30s now it would be a very long time for our kids to move out and we rather invest for early retirement. We have 0 debt of any kind, 2 year worth of emergency fund in case we both lose our jobs, max out our retirement accounts, fund our two kids 529, and even fund a taxable account. Life is so much better stress free and there is no house out there that would give us the same feeling everyday. Already feel semi retired and we feel that we skipped 15-20 years of our lives to be where we are today, priceless! Also since we save about 40% first, we mostly enjoy eating out and going on vacations with the left over money.
@bellabobbybob347611 ай бұрын
Well done! ! Congratulations 🎊
@striperkid11 ай бұрын
Well done. My story is just about backwards of your story...lol. Long story short, no one plans for a divorce but that's what happened to me and my 2nd wife. We both are in our 2nd marriage and both always lived in a small house. We recently bought a 4100 sqft house for just us. Is it too big? Maybe but we don't care. We will enjoy this house and once it really outgrows us, we'll sell and downsize. For now we love the extra space and view of the golf course.
@eplugplay840911 ай бұрын
@@striperkid Congrats on the house view of the golf course, sounds really nice.
@davidbrayshaw352911 ай бұрын
My wife and I paid off our very modest home in just under 9 years. It was a renovator's delight, when we purchased the house, and it took the best part of 20 years to iron out the wrinkles, but not having a huge debt hanging over our head made all of the faults that we lived with, much easier to bare, especially on the two occasions when I lost my job! We're now in our early fifties and have owned our house outright, for fifteen years. We've been empty nesters for the last seven years. It is a very good position to be in when you are celebrating interest rate rises, rather than dreading them. As I stated in a previous post, it's very nice when your house works for you, it's not so pleasant when you're working for your house.
@IrisP98911 ай бұрын
Is the house in a low or high cost of living area?
@bettysmith452711 ай бұрын
Glad they are doing this video, because a lot of people seem to only be concerned as to whether they an afford the mortgage and down payment. No one tells them how much it costs to own and properly maintain a house!
@jeffreywhitaker515411 ай бұрын
Agree. Just like cars. They’re concerned about whether they can make the car payment for a BMW not thinking that MAINTAINING that vehicle is EXPENSIVE.
@jasonleatherwood217211 ай бұрын
Agreed i just dropped 10k on septic and driveway repairs took me 12 months of smelling crap every time it rained and crawlinf up my driveway in 4 low but its all fixed now paid for in cash lol
@orphancharmander116811 ай бұрын
The problem is, that it cost you your life, its not millions, its not billions, its aint trillions, it is it all 👀
@curiouscat338411 ай бұрын
and the boat!
@bettysmith452711 ай бұрын
Only 10K for a new septic?? That is dirt cheap, around here it is 15K to 30K for a new leach field! @@jasonleatherwood2172
@CycleCruza11 ай бұрын
Its always something that needs fixing with a house. However, it beats living in an apartment any day.
@lorrainei16229 ай бұрын
I’ve accepted that i won’t be buying a house anytime soon and I’m ok with that. I’m content in my rent stabilized apartment for now. The way life is right now with inflation, I’m not even trying to put myself into any heavy debt.
@bigcahuna4236611 ай бұрын
On the first caller, don't forget about home owners and flood insurance. On a $1M house near the gulf coast in the FL panhandle, insurance is EXTREMELY expensive if they can find a company to insure them (State Farm and Farmers jumped ship from the FL home insurance market a while ago), and companies can jack up premiums at any time upon renewal. On a $110K income, I'm afraid they will be house poor just to cover the maintenance on the property. They should look into purchasing a home half that price and they should be fine.
@superman977211 ай бұрын
yep... exactly... plus usually a place like that has some type of hoa which adds on monthly maintenance fees as well as unexpected assessment costs...
@mavamQ11 ай бұрын
I received an email this evening from a friend that has Citizens Ins (Florida state-backed insurer) saying that he will need to find a new insurer. He is now paying $2,966 to cover a $350k home. Citizens gave him two companies to get quotes from. The first quote he got was $22,000! (Twenty Two Thousand Dollars) There is nothing odd about his home, it is not on the water, it is a few blocks from a lagoon that feeds to St. Andrews Bay and the Gulf though.
@EmpressMermaid11 ай бұрын
Currently there are only 8 companies offering homeowners insurance in Florida and that number is likely about to go down to 6 soon. Plus, Pensacola is very storm, flood, and hurricane prone.
@Christina-yu3gu10 ай бұрын
My realtor is having hard time selling houses on Siesta Key same reason flood insurance u must have now in Jan 2024 if house is 600k or more replacement. Plus Hurricane. I’m out Nevada mountains too much here& weather 🔥🔥
@SerinaGliues9 ай бұрын
Fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
@paulboateng75218 ай бұрын
If it’s a primary residence and u plan to live for 30 years you really don’t have to worry about a crash.
@GoulashKroket7 ай бұрын
Obvious bots are obvious
@sugerrayrobinson41057 ай бұрын
Are you willing to invest that much into a home? Will the home be used for personal use long term? If so then it really doesn’t matter if the housing market crashes, it would only matter in your case if you saw your home as an investment and didn’t want to see that money go. Only way to really mitigate risk is to not tie up so much of your net worth into a property
@gogos12345678907 ай бұрын
I agree with all replies to this comment. Please also consider that there are so many more variables than what you're mentioning. Personally, I believe that you simply cannot time the housing market whatsoever. Where I live, average house to 400K 10 years ago. Everyone and their grandmother was calling for a crash/housing bubble. Now properties are 1M average, and the ones that sold are very much no longer in a position to own again, and now have to spend 3x as much on rent, paying off other people's mortgages. So I'd just keep in mind that the rental market is actually the riskier move, since you can't opt out of the need to have a roof over your head. You mitigate risk by going with a fixed mortgage, or paying off your mortgage entirely. That's in my opinion the way to make your future the most predictable. It doesn't matter if your property drops to near 0 (and FYI, most crashes are like, 15/25% reduction of values, which is a matter of a few years appreciation). Just my thoughts on the matter though. I know it's 2 months later, would love to hear what you ended up doing.
@mangodiet8017 ай бұрын
DO NOT BUY A HOME NOW, worst time, you can put that money in an FDIC Insured High Yield Savings Account or CD and get earn back about the same of a property, risk free these days
@superman977211 ай бұрын
first place i got, i thought of it as an investment and broke even ... the place i got now, i think it of a home to live and it's priceless...
@jimeagle550911 ай бұрын
Tack on the taxes, insurance, upkeep, maintenance, unforeseen expenses on top of the mortgage ……….and that’s why mom and dad rarely go to restaurants anymore …. Thanks ~Jim Eagle
@znmsu619611 ай бұрын
my grandfather left me two homes and dear god its alot to handle but im grateful
@MrBobm00111 ай бұрын
He probably lived on beans and rice, drove old truck and gave Dave his first life lesson so please be grateful !
@Essentialoils4ujess-weagle5 ай бұрын
My husband and I have done well. Buying ugly houses in nice neighborhoods. We’ve gotten 3 super cheap places to live because we were willing to clean out the houses and fixed them up. It’s amazing what new paint, new flooring and a rack can make sad looking house look brand new 😊
@annahopp11 ай бұрын
The most important feature of my dream home: PAID! 5 bedrooms on only 2,000 sqft, smallest house on the entire street, no frills shack. We all sleep wonderful and have plenty of money every month to invest thanks to no house payment.
@mardriebent3 ай бұрын
Very good
@Sincerely_SweetAesthete2 ай бұрын
@@annahopp 2,000 square foot is not a shack. Do all your bills not fit into your wallet too? Please. This is a gross comment
@kleindropper11 ай бұрын
I paid my house off in 2020 and then turned around and sold and bought a huge house 20 miles out of town. I knew rates were never going to be like that again for a while. Now I'm safely away from city crime, have a walk-in shower larger than my entire old bathroom, and the view of a beautiful tree filled park out my back window. I don't regret the new debt at all knowing that I'll likely have it paid off by the time its time to move again when I retire
@pawelek711 ай бұрын
I guess people like to keep all of their net worth in one asset 😂
@TM_Stone11 ай бұрын
Exactly, you can't take it with you. And if you can't afford it anymore, file bankruptcy and let the lending agency eat it.
@kleindropper11 ай бұрын
@@pawelek7 401k?
@Sophie3647s11 ай бұрын
@@pawelek7I wouldn't assume that based on his commentn
@pawelek711 ай бұрын
@@Sophie3647s my mistake I didn’t mean to comment here. I was responding to the different comment 😆 don’t drive and play with your phone
@sct40409 ай бұрын
Getting a mortgage with all the fees involved scared me so much back in 1997. So, I bit the bullet and paid cash for my apartment. So glad I did. My bank account went to 0, but since I have no interest payments to make, the savings added up quickly.
@Danieei6 ай бұрын
The year I was born. Wish I was born in the late 80’s
@victors1681111 ай бұрын
A $1M house with $100k/y does not make sense wondering how he got 600k on investment
@GregoryFenelon.11 ай бұрын
Death Inheritance.
@zbeavermanz427710 ай бұрын
@Basqmusicc guys 48 assuming he started around 24 putting in an aggressive amount of investment would work
@HoangTran-zk8id7 ай бұрын
He forgot to mention that he is planning on eating instant noodle for the next 10 years to afford that
@alexgrinage6 ай бұрын
The lil things he said he has va benefits and he's 47. So even an ok va payment is 1500+ tax free. You usually bet bunch of other tax exemptions benefits saving you money. So you save fast. Examples few stats if your 100% va you don't have to pay properly tax. Health care covered maybe family too. College is free if he used it. Plus more. And you get paid for that So you could easily save 15-30k a year from all that. So from 30 to 47 Is 17 years $255,000-$510,000 before intrest
@alexgrinage6 ай бұрын
@@HoangTran-zk8idhe didn't go in detail but he said florida va benefits are amazing. For some va recipients they tax exempt you for primary home. Homestead exempt a few stats have it.
@LukeofAllTrades.11 ай бұрын
I tell people to budget 2-3% of home value per year for repairs & upgrades, a ton of people will say that's too much, but I tend to see it be true, unless you just want to deplete and rebuild your emergency fund.
@ChrisMFlorida11 ай бұрын
that's true.. a roof or AC is probably in line with that, not to mention wants vs needs like upgrades.
@aliciaz468211 ай бұрын
Completely depends on where you live. Up here in Canada nothing in my house is worth 10% of it’s assessed value - the value is the land (just outside of Vancouver, BC)
@floresnashvilledrummer11 ай бұрын
Damn, that's a lot. It does make sense until you're sitting on way too much money in the emergency fund when it could go elsewhere.
@LukeofAllTrades.11 ай бұрын
@@floresnashvilledrummer Yeah, if you get lucky and don't need it, you can always start putting the extra toward paying off the house. Right now I've got it all in a HYSA until the rates drop down to below the rate of the mortgage. If that doesn't happen for another year, it will probably be enough to pay off the whole house. Once I hit that amount, I'll open another investment account and start putting it there. But our A/C could go out anytime, so it's nice to know I already have the money for it.
@user-tb7rn1il3q11 ай бұрын
If you own a home and are handy you can get that number below 1%.
@SnifferSock11 ай бұрын
My house is worth maybe 1.8x my salary. I can't imagine having one 4.5x... 10-12x just seems insane though, cash or not.
@LOLZHAHANOTFUNNY11 ай бұрын
Same, our mortgage is $128k and we make $105k yearly in our 20s. It's a little house with no garage and a simple setup for our little family. The bills are small too and we never ever argue about money.
@ChrisMFlorida11 ай бұрын
same.. the two houses I've bought since age 23 have been roughly 2x my income. Let me tell you at age 23 a 44k house was a fixer upper, latest home was $105k a few years ago. It's not much but I've got a few acres now and it's paid for.
@aolvaar879211 ай бұрын
In 2011, I bought an unmarketable Fannie Mae foreclosure for $50K, Now ~$500K My pension is $100K/yr That's 5X ??????
@aolvaar879211 ай бұрын
@@ChrisMFlorida The OP is talking about how much the house is worth, not how much he paid for it. He can't imagine owning a house that is worth 10X. I can
@terrodar1911 ай бұрын
@@ChrisMFloridaLOL 44k house??? You cant even buy half an acre w that
@daphblue11 ай бұрын
He likes to live by Dave’s principles, except for the one where you live happily within your means. 😂
@beaniemac11 ай бұрын
Why would anyone want waterfront property in Florida given all the natural disasters and issues getting homes insured for a reasonable price?
@ChrisMFlorida11 ай бұрын
my boss has one and is always complaining every hurricane season, but it was inherited during a relative passing and she just keeps up the maintenance.
@floresnashvilledrummer11 ай бұрын
And having a nest of alligators as your neighbors.
@advancedchiropractic66711 ай бұрын
This is ignorant. There is more that lake water front in Florida. Also, they hold their value. In Florida canal homes there will only be so many because you can not make canals. So scarcity they do not fluctuate like other homes. Also, if you can air BnB you can rent for large sums. My home value went up 200% in 10 years. insurance is not that bad considering taxes are low and the ocean is beautiful and the fishing and water sports are amazing. Just drop your boat down on your lift and off you go or slide your personal water craft into the water and your off. You can not compare homes on the water to anything else. Finally, you can get lucky and find something for $800 if you look.
@mysticaltyger200910 ай бұрын
That's what I was thinking!
@roadrunner96226 ай бұрын
The guy didn't sound like he had a firm grasp on numbers and the way things work anyway.
@tiffanya455611 ай бұрын
Why a Million dollar home on that amount of an income. Makes zero sense. Zero.
@iTuber01211 ай бұрын
If they pay cash and no mortgage, they can quickly rebuild the investments. I think they'll be okay but they'll be very house rich. It'll take years to rebuild their savings but with no mortgage, it can be done
@XennialGuy11 ай бұрын
*house poor
@daphblue11 ай бұрын
Right. My husband makes around the same after taxes, not including my income, and our house was just under 200k. We did not feel comfortable spending more, and good thing, because the cost of propane for us and the work put into it feels like a stretch most of the time while we try to save a good amount each month to replace the old wood siding and build a garage.
@Jss76611 ай бұрын
@XennialGuy how? Paid for million dollar place.
@XennialGuy11 ай бұрын
@@Jss766 When you look up the definition of "house poor", it explains it. This guy does not make enough to afford the home even if it was handed to him free. A million dollar home in Florida on the coast comes with the following added expenses in 2023: $15k to $20K a year taxes and HOA, $15k yearly insurance for any new applicants, mandatory roof replacement as set up by your insurance provider which runs anywhere from $35K to $50K these days on the coast for a 3000 ft² home, higher year-round AC costs to prevent mold, much higher AC unit replacement costs every 8 to 10 years on the coast which currently run about $12K on average, interior/exterior pest control, and no, the Home Depot stuff is not going to cut it. Unless you've actually lived on the coast in Florida, you would never realize these things, and I haven't even covered everything. This guy is going to need to dump an average of $40k in home expenses and maintenance every year, and some years may be worse. He's not grandfathered in, his insurance and taxes are going to be atrocious. Considering his take-home pay from 110 is only $85k, he'll be in over his head before he knows it. He does not make enough money to afford that home, plain and simple.
@HelosWorldRailroadReseller11 ай бұрын
😢 Dave should tell him to run. If he was making $400k a year yeah because he could rebuild investments in no time. They don’t make enough to justify a million dollar property. Crazy to consider
@cashcow438311 ай бұрын
A waterftont home in Florida is more mainetence than you can even dream of. Saltwater ruins everything so fast you will be shocked what it does to wood in one year
@faithrada7 ай бұрын
Yup, plus Air conditioners, appliances, and cars rust out TWICE as fast on the ocean. Even the "Coastal" house paint is double.. AND does not last. Ocean front is brutal on properties.
@roadrunner96226 ай бұрын
Not to mention his home insurance costs.
@MeM.Card.Collect3136 ай бұрын
Agree everything we do is in excess and we don’t give ourselves enough wiggle room/margins.
@rdmineer111 ай бұрын
You have to be careful what home you buy. Down, closing, and servicing the mortgage are just the beginning. Add the liability factors, undetermined maintenance and repairs, rapidly rising insurance premiums. Don't forget annual property taxes, rent to the county, and constant devaluation of dollars. Future market value may not ultimately reflect a positive ROI.
@zuzanazuscinova520910 ай бұрын
No, but where do you suggest people live? We all ultimately bear costs of housing. Whether directly or indirectly.
@rdmineer110 ай бұрын
@@zuzanazuscinova5209 This is true, we must live somewhere and there is peace in knowing you have control over it. My point is beware what you're getting into. Get what you need and want, enough to serve you, not so much that you serve it. People who are not paying for it can think whatever they want.
@jonathanwelke7 ай бұрын
Thank you Dave. My goal is to pay off my house in 5 years. Im 2 years in and ahead of schedule by about 6 months. Rice and beans sucks at the start but like you said. I hope the end years will be awesome. I'm 41 years old.
@alexjeffs709211 ай бұрын
Million dollar houses were 500k a few years ago
@kathleencooney151811 ай бұрын
Depending on location. Homes always appreciate but some locations much more than others.
@johnroark956811 ай бұрын
Beginning of video, "I'm so excited to hear everyday people call in and get great advice about buying a home!" End of video, "Well that was worthless"
@roadrunner96226 ай бұрын
Yeah, "everyday people" who have $600K investments, $400K equity, buying $1.3 million homes. 🤔
@quintc103911 ай бұрын
Its never enough is it?! smh People are never satisfied.
@Dividendsmattertoo11 ай бұрын
Everyone’s tryna live large and find their happiness in things to keep up with the jones. To reach their own I guess but the best experiences in life are almost free
@lostledger6 ай бұрын
Thats what makes the world go round
@ppg197823 ай бұрын
Factz
@nancyblockcolsky138711 ай бұрын
He might owe capital gains tax on some of the investment money, so the $600k might not be a full $600k.
@Nick-bd2yv11 ай бұрын
How did nobody here mention this
@Bidenlost202011 ай бұрын
@@Nick-bd2yv That is frustrating. I love Ramsey, but he preaches about deliver groceries to pay off debt. Well, TAXES!
@benstanfill36311 ай бұрын
He made it seem like he could get 600k from them. I assumed that's what he plans to have after tax, not what's sitting in the account.
@JoeTheDIY11 ай бұрын
No other debt, but even though our mortgage doesn't exceed what is suggested by the Ramsey Plan, repaying our emergency fund, and trying to stack up cash aggressively still feels like we're drowning.
@Youdontknowwhatliterallymeans11 ай бұрын
You'll feel better after you so wisely replenish your emergency fund. Then you ought to be intentional, not intense.
@stephenstack329211 ай бұрын
I’m in the same boat, but I always tell my wife “at least we’re drowning with money in the bank!”
@Ashleycorrie849411 ай бұрын
The greater the automated income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off automated income since July 6, 2016. You've got to start taking steps to achieve your goal.
@RandalHebert11 ай бұрын
I couldn't agree more. Taking charge of your life and putting in the hard work is the path to success. Having a portfolio manager like Mr. Samuel Peter Descovich is a game-changer. Their expertise and guidance can truly transform your financial journey. Making $35,000 in profits each month and saving 70% of that is quite impressive!They save you time and provide valuable insights that lead to impressive profits. Keep up the amazing work, and enjoy the fruits of your labor..
@AnnaKrueger80911 ай бұрын
As the economic crisis keep rising, one needs to have different streams of income, a well detailed diversified investment portfolio in the financial markets is needed to survive, as well as secure a profitable investment future, Thanks so much Mr Samuel Peter Descovich for improving my portfolio
@curiouscat338411 ай бұрын
Waterfront in Pensacola???? He calls this an "opportunity" - probably somebody selling it as a bargain 'cause they lost $ and are throwing in the towel in hurricane territory. They're foolish - I'm glad John spoke up about maintenance and repairs and I'm surprised Dave was not screaming his concerns about it, lol.
@theadvocate300611 ай бұрын
Let alone the fact that home owners' insurance might not be available in that area.
@TheyRiseBand11 ай бұрын
Dave likes the humble-braggers, anyone worth north of $1 million. He goes easy on them.
@AngieMcdonald-fu9nh6 ай бұрын
Do it!! You will never regret buying your dream home. And you might not get another chance. Waterfront living will give you so much calm. The view alone will extend your live 5 years. If you can hear waves you will be next level zen. This is what you save for! You go out less and spend less when you love where you live. The extra 200k us obviously new firniture and updates. But they can be done over time. The crucial question is how much is in retirement. And is he happy to work until 65? Because if hes happy to give up early retirement. (and lots of guys love working and continue after retirenent) Then BUY IT.
@jbarkley493865311 ай бұрын
That light bill will be around $800 a month. Just for lights. Imagine the other utilities
@Big-Government-Is-The-Problem11 ай бұрын
not necessarily. it could be a small house on a very expensive lot. either way, its a dumb purchase to sell his money making stocks and put it all in a house
@blackworldtraveler371111 ай бұрын
I have a $900k home on Marco Island. It’s 1600sqft . My household utilities are the same or even cost less than someone with the same size home worth $200k.
@RonniewbNC11 ай бұрын
Homeowners insurance in FL is outrageous.
@kathleencooney151811 ай бұрын
I worry about insurance.
@ppg197823 ай бұрын
Home insurance has been outrageously expensive in FL..and most of the insurance carriers have left the state, stating that they cannot pay insurance coverages for weather calamities and go figure...they got your monet allright...😅😅😅😅
@BasicBeachCommunity111 ай бұрын
Does it depend on location??? We saw 400k houses got to 180k in 2008 and then 300k houses go to 850k in 2021....Bizarre ...
@LoyceLeeber10 ай бұрын
The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
@fadhshf10 ай бұрын
Investing in both real estate and stocks can be prudent choices, particularly when backed by a robust trading strategy that can navigate you through prosperous periods.
@TomD22610 ай бұрын
You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
@lowcostfresh226610 ай бұрын
@@TomD226 Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
@TomD22610 ай бұрын
Actually, I'm not sure if I'm allowed to mention this, but I'd recommend looking up Camille Alicia Garcia because she was a big deal in 2020. She manages my portfolio and serves as both my coach and my manager.
@KITTYKITTYBO11 ай бұрын
He’s 100% service connected which entitles him to not have to pay property taxes is what is not being said here. That doesn’t mean he’s disabled and can’t work or function. Many many many states have this. Our state not only do you not have to pay property taxes no matter where you live, you don’t have to pay for your license plate renewals and there’s a few other benefits as well
@mixmax60273 ай бұрын
He's also a reservist. He said he couldn't touch the military retirement money yet. If he's 50% or greater, he'll get concurrent retirement. Maybe another 1200 a month after taxes
@kathleenpayne5644 ай бұрын
I could have bought a larger house but bought smaller instead. Perfectly happy with what i have. No need for larger more to clean like my mom used to say. Wise woman. And i am working at actually getting rid od excess stuff.
@Beentheredonethat91010 ай бұрын
RAMSEY, what this first guy (disabled vet) doesn't realize is that all disabled Veterans can be reevaluated by the V.A. a d the disability rating dropped to a lower pay rate. Even the 100% Disability Rating with "permanent and total" can be taken away. It's NOT a guaranteed lifetime rating. So be careful when counting that as a permanent paycheck veteran.
@thirdcoast-nx7jx11 ай бұрын
Living on the water, the Gulf Coast, I'd want a nice large nest egg. One nasty hurricane can flatten a million dollar house and then you are subject to Florida insurance laws which is bad place to be if you don't have a pile of cash in the bank. Proceed with extreme caution.
@sugar74DaDDy11 ай бұрын
High property taxes & insurance
@tiffanya455611 ай бұрын
This. I doubt on $110k a year that they are going to afford the insurance and property taxes in FL
@Dan1667311 ай бұрын
Yeah gotta factor in these things
@Dan1667311 ай бұрын
@@tiffanya4556110k is weak af
@vicepresidentmikepence88911 ай бұрын
Everyone throws their money away. Renters throw their money away, and homeowners throw their money away paying mortgage interest, property taxes, and insurance
@RodneyDempsey-o8w3 ай бұрын
@@vicepresidentmikepence889yes however someone who owns their house can sell it and get it all back and them some. Someone who has rented for 30 or 40 years has spent a lot of money and nothing to show for it.
@stevenporter86311 ай бұрын
Finally Dave said stretching for a house provides no wiggle room or liquidity. Like George with all his net worth tied up in a 'paid for house' but no liquidity.
@DB-bw5fz11 ай бұрын
That’s not quite the same thing. George and his wife bought a house they could afford, and worked to pay it off early while still investing. They now have a large portion of their net worth in their home due not just to having it paid off, but also because the value increased after purchase. Having a large portion of your net worth in your house isn’t always bad. Buying a home you can afford that skyrockets in value and becomes a large portion of your net worth isn’t the same thing as liquidating your investments to buy a home that is far out of your price range income wise and making it the largest portion of your net worth.
@stevenporter86311 ай бұрын
@@DB-bw5fz Agreed. I simply mean paying off the house so someone can be a millionaire on paper at the expense (opportunity cost) of growing a portfolio is silly. A house increased in value is only worth something when someone else is willing to pay for it, if it is sold and the previous owner moves somewhere cheaper, presumably of lower quality.
@DB-bw5fz11 ай бұрын
@@stevenporter863 I agree somewhat. If you have a fixed interest rate for the life of the mortgage…then investing the difference when it’s relatively easy for gains to beat the interest paid makes perfect sense. I’m in Canada, and here, the longest fixed interest rate term you can get on a mortgage is 10 years…and generally the rates on those don’t make sense. The most common is the 5 year fixed…so the risk factor is somewhat different here. Here, you’re weighing the potential net gain against the rates you’ll potentially be paying in the future. The low rates of the last decade have wreaked havoc on some that chose investing over paying down their homes. The losses those people experienced when the markets dropped are now being compounded by mortgage renewals coming up and rates going from 2-3% to 6-7%. We opted for the blended approach and did both, having paid off our house after 11 years.
@CycleCruza11 ай бұрын
Life can change in a split second. What if your health goes bad and the income goes down, do you want to deal with a $1 million personal home? I'd rather have a cheaper home and go rent a house on the water whenever I wanted to. Lake or ocean front homes bring even more problems and expenses.
@candeffect3 ай бұрын
I started planting 401k/IRA mutual fund money trees in the 80s. I couldn't buy a house in CA because prices outpaced my income. I'm 66, retired in 2020, and my money trees are producing average 3x pretax post-income on top of my ss and pension income. If you can't buy a house you can plant money trees. Sell some shares at market highs to build up cash for Bear markets. Start buying back shares at Bear lows with excess cash.
@saidrachid594311 ай бұрын
You guys forgot to factor in the taxes that he will have to pay when cashing out the 600k investment. Around 200k will go to taxes.
@riceball77711 ай бұрын
depends on what his basis is. Not all 600k are gains. You only pay tax on the Gaines and long term capital gains tax is only 15%
@blackworldtraveler371111 ай бұрын
That’s the caller job. If he wants more done it’s time to pay someone to do the math for him.
@mg-by7uu11 ай бұрын
It's easy! Just make $200k a year if you want to do the 15 year 20% down rule that Dave recommends. But remember prices won't go down even with demand at record lows so keep buying using Dave's endorsed real estate professionals!
@RelentlessDjango5 ай бұрын
100k income BEFORE TAXES trying to take on a 1M property; is INSAAAAAANE!
@davidrecord392811 ай бұрын
True cost is more than you think...that's an understatement. My future home purchase is just a dream now
@faithrada7 ай бұрын
Better to have a dream than an actual nightmare.
@jacksonbilly997910 ай бұрын
I have a side account I during to save up for a house, it’ll be 4/5 years from now and I’m trying to learn everything I can in the mean time to know how much I need and what to look for and all the inspections I need to have. I plan on putting down 20% plus an extra 5% for closing cost and inspections. Looking for house between 90-130k in Oklahoma
@knockel1811 ай бұрын
There's no way that lady would be able to save 100,000 in 2 years. She sounds like she would never give up her lifestyle.
@kevinhill714011 ай бұрын
Thank you for your content. Peace and Blessings everyone of you.
@candecarro20 күн бұрын
There are an awful lot of waterfront properties on the water, almost everywhere, for $700,000 or less. And fabulous!!
@bentate628811 ай бұрын
Do not go to college unless you are absolutely certain you want to pursue a masters+. A bachelors isn’t worth it anymore. And trust me a masters+ isn’t easy and it’s extremely expensive with a lot of debt. Don’t go to a big state school pointless, companies don’t care they want experience and a degree. Coming out of highschool with no debt is the best way to go, work a lot of overtime during the week and enjoy your weekends with friends. Save money. Pay off a cheap working car.
@roadrunner96226 ай бұрын
Gender Studies
@bentate62886 ай бұрын
@@roadrunner9622 well yeah that’s of course a golden job career 😂
@islandhopper10011 ай бұрын
always the qualifier. i do most of what you say except for the important parts as in becoming debt free. KISS(keep it simple stupid). Pay off your mortgage and forget tying up everything to a property on the beach. Rent something on the beach for 6 months and you will quickly realize that living on the beach is quite different than the dreams of living there. Sand and salt are not your friends. Do not get me started on risks associated with beach front property.
@Orang31511 ай бұрын
🙄 I only have a $40,000 house and I got scared to get my roof redone for $20,000 so I DEFINITELY couldn’t be this guy ! 🙄
@XennialGuy11 ай бұрын
Man, where can you get a house for $40K these days? Manufactured home I assume? Even then.
@MaxAndDaisy082511 ай бұрын
110 household income isn't much these days Especially in Pensacola freaking Florida Man that's nothing Please don't do this 😭
@scotland36911 ай бұрын
110k is plenty if you don't have student loans, car payments or kids lol
@Deedior5392 ай бұрын
Currently making $170 daily with one closed debt of $6243 with Ally they gave me a settlement offer for 2497.50 with 9 payments of 277 per month. Currently at a 631 score and looking to buy in Texas but I work in WA state. I make sure I keep my utilization is 7-10 percent in total on 5 credit cards. Whats your advice
@advancedchiropractic66711 ай бұрын
I live on the water in Florida. Either you’re living on a lake or a Canal not open water for 1 million. If on a canal the sea wall will need to repaired at some time and it’s very expensive. Also, you will want a boat and they are very expensive. Housing is softening, I wait. You get used to living on the water and it just comes at home.
@sct40409 ай бұрын
$110,000 income and a $1m house? That’s crazy. Income too low for the price of the house.
@susanelizabeth75511 ай бұрын
One point to clarify this, the wealthy do save up enough to buy their next asset. They do not save as a means of building wealth or as a retirement strategy...
@tritonh56836 ай бұрын
If you almost have the cash to buy a home and thinking if you should take out a mortgage, this is something you can do. First figure out the Mortgage rate on your loan and the amount you are about to finance. Now look at your own investment track record and ask yourself this can your investment’s net ROI minus your own risk factor beat the Interest rate and by how many percent. Why take the risk, if you can only generate 1-2% more than the interest rate.
@grahamsiebring522711 ай бұрын
Question for experts out there: although interest rates are high today compared to a few years ago, they are low compared to late in the 20th century. Adjusted for inflation, is it cheaper to buy a house now as a percentage of average income, or was it still cheaper in the 1980s even with high interest interest rates (15-16%) at that time?
@mikeparrott830411 ай бұрын
The dollar and pound has been devalued heavily which distorts these figures. Hence families not being able to live on one income
@wreckers_band882511 ай бұрын
The first caller, I feel doesn't know what he is getting into. Maintaining waterfront properties is expensive. We own 3 acres of vacant land with 420 ft of lake frontage. We haven't even started building anything yet in the last 6 years we have spent 60k already building and maintaining the beach, dredging and removal of invasive water plants, reforestation due to some trees we lost due to the machinery that had to be brought in for the dredging, Annual lake treatment to avoid weeds and invasive plants. Now we need a barrier to protect the waterfront edge from erosion. The list never ends. I absolutely love it and are looking forward to moving here, but you need lots of money to maintain it looking nice.
@XennialGuy11 ай бұрын
And waterfront in Florida of all places. 😂 He's not prepared for the $20K a year insurance hike, mandatory $50k roof replacement by the insurance company, $15K a year property tax and HOA, running your AC 365 Days a year to prevent mold, and yearly evacuation budget.
@reality-winner575910 ай бұрын
Keep piling up cash and keep having your savings eroded over the next 5 years by inflation....or let it appreciate when the beach house goes up in value. Great advice Dave
@dheins5711 ай бұрын
These multiple call themed videos are awesome
@ccon811 ай бұрын
I’m sure caller 1 will still buy the million dollar house because he is thinking with his emotions
@godsson803511 ай бұрын
Why is no one talking about Job losses when it comes to buying a house? Or are we leaving in a different United States or country.
@curiouscat338411 ай бұрын
That's what the 3-6 mth emergency fund is for (in the baby steps) but I lean much heavier on that. I like the other commenter who has 2 years worth of living expenses in savings! Covid should have taught more people. Or a serious accident that kills one spouse and seriously injures the survivor with kids?
@godsson803511 ай бұрын
@@curiouscat3384 personally only few sets of people can buy a house right now Doctors and Lawyers and the rest of us have to seat this one out, the 3 - 6 months emergency fund means nothing when you are over-leveraged.
@ChrisMFlorida11 ай бұрын
because you should have a 6 month emergency fund to cover all expenses should you lose your job and have to job hunt for a few months. Probably 10% of people actually do this.
@blackworldtraveler371111 ай бұрын
I bought a home I could truly afford. Had no other debt,extra savings,and a three year emergency fund at the time. Was just common sense to me and goes without saying.
@godsson803511 ай бұрын
@@blackworldtraveler3711 I can agree with 3 years emergency, it means you can truly afford it and in those 3 years, the value of the house must have gone up and no equity loss, 6 months emergency is not the same.
@clayfranklin128210 ай бұрын
What i don't understand is if a couple is living in a beautiful house worth 300k plus, that probably is paid for or almost paid for. why buy more of a house. I guess some people can't be happy with what they have. Keeping up with the jones I am grateful for what i have. I get that some people has goals for awesomeness i get that but more can be stressful
@wldktz110 ай бұрын
There is absolutely nothing wrong with buying a bigger home. Just because it doesn't fit your preference doesn't mean it's not right for someone else.
@tritonh56836 ай бұрын
Subbed!! Even though I don’t agree on everything he says. But I can truly say, his way will help the majority. If you are a driven and a savage person, his approach might be too mild for you.
@billymabum35148 ай бұрын
Brett was showing off . Simple as that
@jeffs.334811 ай бұрын
I don't think this first guy got enough credit. He already had $600k in retirement AND a million liquid at that age and off $110k a year. BRAVO dude. But that is a lot of house. But clearly he knows how to spend and save and will make it work for sure.
@nahndibush194211 ай бұрын
Why liquidate ALL of the savings, and not just put half or so toward buying the new house?
@jasnalah10311 ай бұрын
I only make 70k a year wondering how much house can I afford??? I’m tried of these high rent prices
@alcha937 ай бұрын
Hasn't there been a problem with getting home insurance in florida? I wonder how much insurance costs over there for a waterside house.
@jaybrower72002 ай бұрын
Us "rushing" to buy a house in 2019 is the best decision we ever made.
@Kymmyet11 ай бұрын
If he's 47 and retired military, there are a few questions and assumptions. If he is retired in Florida there are no taxes that he would be required to pay. If he is retired military (active duty) he should be able to draw retirement immediately. Since he said he's not old enough that leads me to believe he's was a reservist. So their is additional income somewhere plus he my receive disability from the VA. I think he left out a few things....just my thought. Military retirement can be complicated.
@liquidSpin7 ай бұрын
Caller is either lying about how much free investments he really has or he's getting ripped off by the seller for making him have a mortgage on a million dollar home after he paid a million dollars.
@eegernades11 ай бұрын
Im buying a home in 2 years. I aint furnishing nothing. Not a thing that girst 6 months.
@MillionaireHouseholdFinance11 ай бұрын
House can be very expensive and you won't even realize it. When we don't owe anyone anything then we actually own the house.
@ryanpenman25111 ай бұрын
Not really, you still have to keep paying taxes on it forever
@romanromanowski903811 ай бұрын
@@ryanpenman251 I would rather pay real estate tax than rent !
@aolvaar879211 ай бұрын
@@ryanpenman251 No, you can defer taxes in some States, The State takes taxes on transfer. I live in the Largest American City (500K) without a property tax. City makes money on Utilities: Gas, electricity, water, wastewater, trash, recycle, ....
@williamedward319811 ай бұрын
@@ryanpenman251 so you’d rather pay taxes (required) AND a mortgage then? Interesting take..
@ryanpenman25111 ай бұрын
@@williamedward3198 I've been a homeowner for the last 2 years, it's absolutely better than renting despite my property taxes already going up and all the work I'm constantly doing. I have full control of what I can do and raised taxes is still far better than rent going up every year.
@xpictos7772 ай бұрын
$700k house actually costs $1.7m over a 30year mortgage at 5% interest. It is compounding interest working against you.
@williamedward319811 ай бұрын
Imagine the cost to cool a million dollar house vs 400k house. This guys housing maintenance costs plus tax will more than 4x.
@rsafree113911 ай бұрын
Don’t confuse price with square footage. They could be the same size, just one is oceanfront and nicer.
@williamedward319811 ай бұрын
@@rsafree1139 very true. I did make the assumption it must be a lot bigger.
@blackworldtraveler371111 ай бұрын
Cost of utilities and maintenance should not change because of the price of home. My condo is around one million now but it’s 1600sqft. Cost of cooling is the same or even less than a home of similar size worth less than $400k.. Maintenance is almost nonexistent inside my home with just changing light bulb now and then. Also depends on individual. With my primary home in Oklahoma I received my neighbors electric bill in mail thinking it was mine. Opened it by mistake and it was a $260k bill for August. (Mostly 100 degree days) My bill was around $80 for that month. We both have the same square footage.
@williamedward319811 ай бұрын
@@blackworldtraveler3711 we don’t have the data on the size of the new house. But generally speaking a more expensive home is a bigger home. And this is more expensive to maintain, heat, cool, repair. Etc.
@williamedward319811 ай бұрын
@@blackworldtraveler3711 if you’re not maintaining your house more than “just a light bulb here or there” then you’re part of the problem I described in another comment. Not being proactive in fixes causes headaches down the road that generally get passed along to a buyer during sale.
@evardmuts11 ай бұрын
Dave I like your show but can I add some spinach with carrots on my rice and beans? I promised my mom I'll always eat my veggies
@kimberlyturner8206 ай бұрын
😂
@codelessunlimited77014 ай бұрын
The callers are upper class Americans. They sure love the show program.
@dougb820711 ай бұрын
Good advice; why take such risk? Living on the water is even riskier than normal.
@JoeLanthier11 ай бұрын
Love it. Please just do a new channel with new content about real estate!!!
@stephensullivan101111 ай бұрын
That'd be cool.
@alycat91866 ай бұрын
I say get a waterfront for $750k and have $250k in the bank. As long as the house isn’t very big then maintenance should be the same if it’s the same size as their current house. $110k per year with a family in Florida is tight. And waterfront property taxes and insurance is definitely gonna be 25% without a mortgage payment. Not leaving a whole lot to accelerate their savings for retirement being they are in their late 40’s.
@gailhoover926311 ай бұрын
Don't forget that Brett will probably have to pay significantly more for his home in 6 years. I say buy it now so that his family will have that much more time to enjoy it. Or, at the latest in 3 years.
@williamedward319811 ай бұрын
$600k would generate close to $60k a year in a (mutual fund). Who would ever liquidate that…
@ChrisMFlorida11 ай бұрын
a money market? where are you getting 10% in a money market? sign me up.
@williamedward319811 ай бұрын
@@ChrisMFlorida vanguard heath care fund, VG strategic equity fund, VG international growth fund, vanguard mid cap
@BlakeBake11 ай бұрын
@@williamedward3198Those are investment funds, not money market accounts. Money Market accounts get 4-5% currently like HYSAs.
@SpoonyLuvification11 ай бұрын
Mutual funds are not the same as a money market, my guy. But yeah I'd never liquidate that
@williamedward319811 ай бұрын
@@SpoonyLuvification a money market is just a type of mutual fund.
@RonniewbNC11 ай бұрын
“I don’t want to settle”. She sounds high maintenance. 😑
@Itsdjsigi11 ай бұрын
Cause she is lol, she’s the type to never be satisfied and will eventually leave her husband when she finds better
@belindaresor.7811 ай бұрын
I remember when kids slept in bunkbeds and loved it ☺️ if they are of same gender, why not share a room together? Things happen in life, so don't live in constant money stress. Has anybody shopped at a thrift store lately? You would be shocked at how stuffed full they are. FB Marketplace, so much nice furniture, lights, dishes, etc. People downsize, people have to clean out their parents homes, etc. People complain that they can't get people to take their free stuff, and most often it isn't junk. People are living a more minimalist lifestyle, they are tired of furniture stuffed rooms. What else can I say? Buy used whenever possible, everything except for your underwear and toothbrush lol 😊😮
@blackworldtraveler371111 ай бұрын
People rather buy homes they can’t afford with things like one bed/bath per child and whatnot. Anything less is “suffering” and their financial mess is someone else’s fault.
@clickpro23345 ай бұрын
I wouldnt buy this house. I only own 10 homes and debt free and very happy. And yes stuff breaks on homes man its alot of work but I love it. Ive been listening to Ramsey since I was little kid my grandpa made me. back in the 80's ish. 1280 am radio is where he hangs out. I grew up poor now multi millionare. Thanks for what you do DAVE.
@juliem51626 ай бұрын
They also need to consider what the property taxes will be for a 400-500K home in Texas! Possibly 700ish+ a month